MENLO PARK — A real estate firm that has developed a lively South Bay mixed-use neighborhood is the high bidder to buy the former U.S. Geological Survey campus, located on prime land in Menlo Park.

Presidio Bay Ventures submitted a high bid of slightly over $137 million to buy the 17.3-acre site, according to the U.S. General Services Administration, which is handling the process to unload the choice property. The exact bid amount was $137,000,006.

Building 3 of Rockaway Grove, the former U.S. Geological Survey campus at 345 Middlefield Road in Menlo Park. (U.S. General Services Administration)
Lobby of Building 3 of Rockaway Grove, located on the former U.S. Geological Survey campus at 345 Middlefield Road in Menlo Park. (U.S. General Services Administration)

The one-time USGS campus is located at 345 Middlefield Road in Menlo Park and comprises 17 buildings in a top-notch Silicon Valley spot.

Presidio Bay Ventures also has developed Springline, a destination neighborhood in downtown Menlo Park.

Rockaway Grove, the former U.S. Geological Survey campus at 345 Middlefield Road in Menlo Park, seen in an aerial view. (U.S. General Services Administration)
Building 15 of Rockaway Grove, located on the former U.S. Geological Survey campus at 345 Middlefield Road in Menlo Park. (U.S. General Services Administration)

President Donald Trump’s administration has launched multiple initiatives to shrink the size and scope of the federal government.

The president’s efforts include the sale of an array of federal properties, some of them high-profile sites.

The federal General Services Administration’s attempt to sell the one-time USGS campus, however, began prior to Trump taking office in January 2025.

The GSA touted the attractive location of the former USGS property in its marketing materials.

“Menlo Park is home to tech giants and other successful startups that continue to entice supporting businesses to set up shop in the area,” the federal GSA stated in its post.

The buildings of the former USGS campus total a combined 412,700 square feet, according to the marketing materials prepared by the federal GSA.

The GSA in particular noted two structures on the campus. One is Building 3 and the other is Building 15.

“Building 3 is a 2,795-square-foot two-story office and lab building built in the 1950s and renovated in 1998,” the GSA stated. “Building 15 is a three-story, 159,555-square-foot building and was built in 1995.”

The minimum bid for the campus was $85 million, according to the GSA.

All told, three companies, acting through affiliates, placed bids for the property:

— San Francisco-based Presidio Bay Ventures, $137 million.

— City Ventures, a California home builder, $120 million.

— Starwood Property Trust, a Connecticut-based real estate firm, $90.3 million.

Several additional steps are anticipated before the sale is concluded, according to the GSA.

The next step prior to a final and official sale to Presidio Bay Ventures is an antitrust review by the U.S. Department of Justice. It wasn’t immediately clear how long that process might take.

However, GSA officials who opened the sealed bids on April 15 estimated that the property transaction should take no more than 90 days to complete and officially record in San Mateo County.

The buyer is expected to pay cash for the property purchase, according to the GSA, which added that no contingencies will be allowed as part of the deal.

The Almanac, a community news website that focuses on Peninsula cities such as Menlo Park, Atherton, Portola Valley and Woodside, was the first to report the news of the bid unsealing.

The Menlo Park site became available after the USGS decided to move its offices to the NASA Ames complex in Mountain View.

Presidio Bay Ventures, the real estate firm that won the bidding, has encountered success with its efforts to create the Springline neighborhood in downtown Menlo Park.

The destination mixed-use development includes homes, restaurants, offices and outdoor spaces.

“Springline is redefining downtown Menlo Park,” Presidio Bay Ventures states on the neighborhood’s website. The real estate firm added that Springline has produced “a resort-style campus with culinary destinations, creative offices, modern residences and a mix of outdoor experiences.”